Womersley's Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 04493245 (England and Wales)

Womersley's Limited

Financial Statements

for the Year Ended 30 September 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr M A Womersley

Mr I Womersley

SECRETARY:

Mr I Womersley

REGISTERED OFFICE:

Ravensthorpe Industrial Estate

Low Mill Lane

Ravensthorpe

Dewsbury

West Yorkshire

WF13 3LN

REGISTERED NUMBER:

04493245 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

FIXED ASSETS

Intangible assets

4

-

1,500

Tangible assets

5

41,584

16,514

41,584

18,014

CURRENT ASSETS

Stocks

142,477

134,973

Debtors

6

94,441

70,112

Cash at bank

72,840

129,675

309,758

334,760

CREDITORS

Amounts falling due within one year

7

259,977

283,395

NET CURRENT ASSETS

49,781

51,365

TOTAL ASSETS LESS CURRENT LIABILITIES

91,365

69,379

CREDITORS

Amounts falling due after more than one year

8

(6,771

)

(27,166

)

PROVISIONS FOR LIABILITIES

(7,901

)

(3,138

)

NET ASSETS

76,693

39,075

CAPITAL AND RESERVES

Called up share capital

10

2

2

Retained earnings

76,691

39,073

SHAREHOLDERS' FUNDS

76,693

39,075

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2023 and were signed on its behalf by:

Mr M A Womersley - Director

1.	STATUTORY INFORMATION

Womersley's Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The functional and presentational currency for the company is the pound sterling (£). All financial information presented has been rounded to the nearest (£), unless otherwise stated.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amounts paid in connection with the acquisition of a business in 2002, is, from the date of transition to FRS 102 (1 October 2015), being amortised evenly of its estimated remaining useful life of 7 years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

33% on reducing balance

Motor vehicles

-

25% on reducing balance

Fixed assets are initially recorded at cost.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2021 - 7 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 October 2021

and 30 September 2022

103,333

AMORTISATION

At 1 October 2021

101,833

Amortisation for year

1,500

At 30 September 2022

103,333

NET BOOK VALUE

At 30 September 2022

-

At 30 September 2021

1,500

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

machinery

fittings

vehicles

Totals

£

£

£

£

COST

At 1 October 2021

55,718

4,993

18,767

79,478

Additions

10,768

1,057

35,995

47,820

Disposals

(42,308

)

(50

)

(18,767

)

(61,125

)

At 30 September 2022

24,178

6,000

35,995

66,173

DEPRECIATION

At 1 October 2021

47,110

3,025

12,829

62,964

Charge for year

1,952

702

7,499

10,153

Eliminated on disposal

(35,664

)

(35

)

(12,829

)

(48,528

)

At 30 September 2022

13,398

3,692

7,499

24,589

NET BOOK VALUE

At 30 September 2022

10,780

2,308

28,496

41,584

At 30 September 2021

8,608

1,968

5,938

16,514

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

Additions

35,995

At 30 September 2022

35,995

DEPRECIATION

Charge for year

7,499

At 30 September 2022

7,499

NET BOOK VALUE

At 30 September 2022

28,496

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

88,676

69,741

Prepayments and accrued income

5,765

371

94,441

70,112

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

-

2,834

Hire purchase contracts (see note 9)

5,417

-

Trade creditors

156,923

135,364

Tax

4,039

6,994

Social security and other taxes

4,099

3,256

VAT

22,132

20,551

Other creditors

1,999

28,125

Wages creditor

3,295

1,793

Directors' current accounts

49,685

73,810

Accruals and deferred income

12,388

10,668

259,977

283,395

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans - 1-2 years

-

5,776

Bank loans - 2-5 years

-

18,219

Bank loans more 5 yr by instal

-

3,171

Hire purchase contracts (see note 9)

6,771

-

6,771

27,166

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

3,171

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2022

2021

£

£

Net obligations repayable:

Within one year

5,417

-

Between one and five years

6,771

-

12,188

-

Non-cancellable

operating leases

2022

2021

£

£

Within one year

1,188

-

Between one and five years

4,752

-

In more than five years

2,178

-

8,118

-

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2022

2021

value:

£

£

2

Ordinary

£1

2

2